WAX, or Worldwide Asset Exchange, is the next big thing when it comes to a decentralized marketplace for in-game assets that are tokenized. It lets people own virtual assets. WAX solves the problem of how tokens will be tied to the assets by creating a system of oversight by the token holders themselves. Transfer Agents are there to oversee and conduct things. The Transfer Agents are held responsible. A Guild will suffer if the Transfer Agents do not do their duty. The Guild is responsible to make sure that the Transfer Agents are doing their job, or else they will not be reelected.
Guilds will focus on overseeing things and monitoring ownership, while Transfer Agents will focus on delivering and transferring the assets. This whole system is designed to help people own fractional physical items, such as shoes from an NBA star that was worn during a game.
The President of WAX is Malcolm CasSelle. He is also the CIO of OPSkins, which is a marketplace for buying and selling parts from video games. He is the CTO, or Chief Technology Officer, at Tronc, Inc. He was the Senior Vice President and General Manager of SeaChange International. He was previously the CEO of Timeline Labs and started working for SeaChange International when they bought off Timeline Labs.
Malcolm CasSelle is a well known international entrepreneur. He is also a well known investor. He has invested in companies such as Facebook, Zynga, and several bitcoin ventures. He was also the CEO of Media Pass. Media Pass is a company that creates software for locking online content to prevent users from accessing it without a subscription. This develops revenue for the owners and producers of the online content. He has a Bachelor’s Degree from MIT and a master’s degree from Stanford University.